Conditional anticipatory bail in money laundering proceedings allowed subject to deposit obligations and compliance with settlement terms.

Anticipatory bail in PMLA proceedings was made conditional on deposit and compliance obligations arising from a tripartite settlement. The appellant had already deposited part of the agreed amount, with a further deposit to be made within three weeks, and the complainants and other depositors were to be permitted to repatriate amounts after compliance with formalities. Bail was to operate on the terms fixed by the trial court and subject to further compliance under Section 482(2) of the Bharatiya Nagarik Suraksha Sanhita, 2023. The appellant was entitled to release on anticipatory bail in the event of arrest, subject to those stipulated conditions.

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Issues: Whether the appellant was entitled to anticipatory bail in connection with proceedings under the Prevention of Money Laundering Act, 2002, subject to deposit and compliance conditions.

Analysis: The appellant had deposited Rs.80,00,000/- against a tripartite agreement referring to Rs.92,00,000/-, and an additional deposit of Rs.20,00,000/- was agreed to be made within three weeks. The direction was linked to permitting the complainants and other depositors to repatriate the amount after compliance with formalities. The grant of bail was made conditional upon deposit and compliance, and was also to operate on the terms fixed by the trial court, with further compliance under Section 482(2) of the Bharatiya Nagarik Suraksha Sanhita, 2023.

Conclusion: The appellant was held entitled to be released on anticipatory bail in the event of arrest, subject to the stipulated deposit and compliance conditions.

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